The Wealth Elevator Podcast: Real Estate, Taxes, Investing

Topics that are covered in this episode:

• Chris Rush is a seasoned real estate investor, serial entrepreneur and founder of Sidereal Management, Inc.
• Starting his real estate career in the family business as a teenager in the 1980’s, Chris has extensive experience in property valuation and acquisition; multiple, simultaneous capital expenditure real estate rehab projects; property leasing and management; financing and refinancing; syndication, fundraising and financial selling; and marketing and property sales.
• Over the past decade through syndication, partnership and individual investments, Chris has acquired, repositioned and deposed of for profit over 1000 units in the Texas, Georgia, New Mexico, Arkansas and Washington markets.
• As a syndicator with Fannie Mae loan experience, Chris has an top-notch reputation among the multi-family investment community for providing exceptional value to investors and the community.
• Chris is a 1995 graduate of the U.S. Naval Academy, Computer Science, B.S. and served 10 years on active duty excelling as a Navy pilot flying missions worldwide.
• Started as a passive investor
• Do a friend-ventory
• Ask what is your hourly rate to outsource
• Be content while you are doing what you're doing
• Eat the frog to get the important things

Check out my Free Resources Below:

1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!

More info: www.SimplePassiveCashflow.com/fund

2) Join a Social Club:

Seattle Social Club

Hawaii Social Club

Portland Social Club

Bay Area Social Club

So Cal Social Club

East Coast Social Club

Central USA Social Club

3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube

4) Once you have gone through the majority of podcasts feel free to sign up for a chat:

20 Minute Chat with Lane

5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email [email protected] if you want to try them out.

More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k

7) Please leave a review for the podcast!

8) Coaching Program to get you to your first rental in 90 days!

9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:

10) Summary of every Simple Passive Cashflow Podcast

Hosted on Acast. See acast.com/privacy for more information.

My Journey Home:

Up to this point, my life has followed a steady, linear trajectory. But today... I took my own advise that time is your most important asset and I am happy to announce that I am speaking to you from Honolulu, Hawaii the new home base of Simple Passive Cashflow!

As a teenager growing up on a small island in the middle of the Pacific, I was programmed to go to college on the mainland because the cost of living in Hawaii was too high and jobs compensation was pretty poor. With the cost of living in Hawaii being 10% more than Seattle or San Francisco and 20% less pay for equivalent jobs, living a comfortable life is no easy feat. I resolved to never return unless I was extremely well off financially - although I am not where I want to be - I have the knowledge and network to get me where I need in the next few years. 

Looking back on my path as a wide-eyed college student living away from my family for the first time in Seattle. And then started my Engineering career working for blood money for my first employer. I am a little dumbfounded how all that work through the traditional educational system only prepared me for a life as a worker-bee to save more and hopefully have enough after I gave away all that time during a 40 year career. But I do look back with gratitude since it gave me the means to save up for down payments and truly savour freedom when I achieve it.

I wanted to inspire others to “Burn The Boats”... to do what you want, where you want, and with whom you want - whether its buying that first rental, quitting a crappy job, getting away from a bad boss, starting a family, or just telling your mother in law to shut up.

Here are the 10 main reasons for my return to Hawaii and I hope you can find similarities to your journey:

1) It's a seller's market.

2) I don’t see many deals out in the market worthy of investing in. In fact, I can't find many that will make money. I don't believe in rent trends continuing upward. In my mind, that's called speculation.

3) Hawaii is a great place to hide out and chill. Knowing when to “hold’em” and when to “fold’em” is half the battle. 

4) Environment matters. I used to live in a really affluent area in Kirkland and my Mercedes is seriously the crappiest car on the block. Homes are filled with babysitters watching kids as their parents play Bejewelled on their I-Phones. I just don’t feel like I fit in. Seattle also gets dark at 3:30 PM in the Seattle winter and I dislike being cold all of the time. Talk about Kurt Cobain! Shoot yourself in the head!

5) Embrace minimalism. My homeboy FI Fighter took the path of Extreme Financial Independence to race to a point where his income exceeded his expenses. At that point the plan is to escape the rat race which not only includes your job but the environment that contributes to lifestyle creep. On paper, Hawaii is one of the if not most expensive States to live in as evident with the median home costs of $800,000 and 8 dollar gallon of milk. The truth is in order to survive, Hawaii’s locals have to live frugally, in multiple generational households, and the housing stock/amenities is much lower quality (B tenant lives in a C building by US Mainland standards)… it's the price of paradise. From time to time we need to get back to basics and keep it simple.

Jon Jandai | TEDxDoiSuthep

6) A unique opportunity. One of my main goals is to create an investor network in Hawaii. People in Hawaii are very fiscally conservative and there is a lot of generational wealth passed on to younger generations. This creates a complex problem for people who have money and “don’t know how to fish.” My hope is to leverage the talents of others to create a non-profit financial education group based on the philanthropy of those who I will liberate from the rat race and will in turn help mentor others in basic personal financial education such as keeping a budget. If you are interested please reach out to me. The best companies are built on the foundations of culture and this is something I know everyone that comes to this website strongly believes in.

7) Technology bridges oceans. Some will say that I need to be close to the action, but I feel technology allows me to be everywhere at once. I travel to Texas and Atlanta a lot and they are major airport hubs which offer direct flights to HNL. I am also a cheap ass (which I am working to change :p), so I take the red-eye to avoid paying for a hotel that day. My situation will actually improve since instead of a 4 hour flight from Seattle to Texas, I now have a full 7 hour shut-eye flight from HNL to DFW. 

8) Serve the people of Hawaii. You might be asking why am I still working? Check out this previous talk I gave explaining why you should not quit your job. I’ll be honest although, I work a few hours a day and times on the weekend on building SPC and my multi-family syndications I don’t have enough work to keep my busy all the time. I recently interviewed for a job and I told them that I was looking to work for good people who treated me fairly and with respect. For the past few years I only worked for non-private entities because I thought that they are one of those busy days at work... my efforts benefit at least the people and not a corporate entity. And now it's great that my work benefits the place I grew up. But don’t get me wrong here… I still don’t really enjoy the work I do and it is not Ikigai or the alignment for four items: 1) What you are good at, 2) What you Love, 3) What the world needs, 4) What you can be paid for. 

9) Passion+Lifestyle=Happiness. Tom Corley (from Rich Habits) identifies 2 ways self-made millionaires rose from poverty or the middle-class. Either you live below your means and wisely invest your savings or you pursue something you are passionate about. I am achieving the best of both worlds. Yes, Hawaii is more expensive on paper, but it is easier to live a simple life and not get caught up in the perpetual pissing contest that many working professionals subconsciously partake in. 

10) Retirement is a state of being. People wear Hawaiian Shirts on a vacation to feel relaxed. Why not make everyday like that? I am no where where I want to be but on my way. With a little Shave Ice too. I want my everyday life to feel like an indefinite vacation. #LuckyYouLiveHawaii

Live in the moment. Life is short… pull your head out off your butt before the years fly by. Don’t you see those Facebook memories posts and think where did the years go? The day is long and the years are short. Get up get out and get some. WUKAR! Lanikai Sunrise 😁 Check out the youTube Channel.

Check out my Free Resources Below:

1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!

More info: www.SimplePassiveCashflow.com/fund

2) Join a Social Club:

Seattle Social Club

Hawaii Social Club

Portland Social Club

Bay Area Social Club

So Cal Social Club

East Coast Social Club

Central USA Social Club

3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube

4) Once you have gone through the majority of podcasts feel free to sign up for a chat:

20 Minute Chat with Lane

5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email [email protected] if you want to try them out.

More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k

7) Please leave a review for the podcast!

8) Coaching Program to get you to your first rental in 90 days!

9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:

10) Summary of every Simple Passive Cashflow Podcast

Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:

• $85K Passive income with a furnished rental business and other rental investments
• He started a meet up in San Francisco and Josh Dorkin from BiggerPockets contacted him
• After the 2012 BiggerPockets summit he copied the speaker list and called everyone
• Replicate what people want
• A lot of REI clubs are pitch-fest with profit sharing
• Contact me with an iTunes review or referral to a new listener and I will let you know who to stay away from
• Speech or topic meeting appeal to new members
• Open circle
• Don’t be an ask-hole, always add with value
• Think what the potential mentor needs and do it
• A lot of people what to be active when they really want to be passive
• In every interaction try and add value
• Give away info and value to see who are the sharks out there
• There can be value to talking to people who do completely different type of investing thing using the same tool
• IP Targeting to target certain people
• Before an event look people up and see who you want to meet
• Have a goal of what you are looking for and what you have to give
• Make the initial contact to follow up later
• Just realize that everyone else is there looking to people just like you
• In today’s market J Martin is realizing that he can’t travel and purchase to properties and is traveling
• He likes to deploy capital when the odds are best in his favor
• Funding & Deals work in inverse

Check out my Free Resources Below:

1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!

More info: www.SimplePassiveCashflow.com/fund

2) Join a Social Club:

Seattle Social Club

Hawaii Social Club

Portland Social Club

Bay Area Social Club

So Cal Social Club

East Coast Social Club

Central USA Social Club

3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube

4) Once you have gone through the majority of podcasts feel free to sign up for a chat:

20 Minute Chat with Lane

5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email [email protected] if you want to try them out.

More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k

7) Please leave a review for the podcast!

8) Coaching Program to get you to your first rental in 90 days!

9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:

10) Summary of every Simple Passive Cashflow Podcast

Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:

• 800 houses in 2006
• MFH was founded in 2008 crash
• MFH has all the repair crews in house
• Focus on cash flow
• In 2008 rents did not go down but the vacancy did
• Two months is the typical turnover
• In the C and D class you will need to pay for 2000-3000 per turnoff effectively wiping out your cash flow
• Failures are seminars that teach us
• Don't flip in the high end
• Don't get a MFH 5 year baloon, instead get a 7-10 year term
• Continue to learn and make your own determination
• Be conscious of your podcasts your listen to because that is the way you will go
• VAs is calling Apartment Owners - Use county assesors offive then secatary of state to get mailing address, lookup phone numbers
• "My boss lives in the area and was interested in buying your property"
• For discount Tony Robbins tickets to UPW four day event email [email protected]
• 501C3 tax status for Non-Profit entity

Check out my Free Resources Below:

1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!

More info: www.SimplePassiveCashflow.com/fund

2) Join a Social Club:

Seattle Social Club

Hawaii Social Club

Portland Social Club

Bay Area Social Club

So Cal Social Club

East Coast Social Club

Central USA Social Club

3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube

4) Once you have gone through the majority of podcasts feel free to sign up for a chat:

20 Minute Chat with Lane

5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email [email protected] if you want to try them out.

More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k

7) Please leave a review for the podcast!

8) Coaching Program to get you to your first rental in 90 days!

9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:

10) Summary of every Simple Passive Cashflow Podcast

Hosted on Acast. See acast.com/privacy for more information.

• 800 houses in 2006
• MFH was founded in 2008 crash
• MFH has all the repair crews in house
• Focus on cash flow
• In 2008 rents did not go down but the vacancy did
• Two months is the typical turnover
• In the C and D class you will need to pay for 2000-3000 per turnoff effectively wiping out your cash flow
• Failures are seminars that teach us
• Don't flip in the high end
• Don't get a MFH 5 year balloon, instead get a 7-10 year term
• Continue to learn and make your own determination
• Be conscious of your podcasts your listen to because that is the way you will go
• VAs is calling Apartment Owners - Use county assessors office then Secretary of State to get mailing address, lookup phone numbers
• "My boss lives in the area and was interested in buying your property"
• For discount Tony Robbins tickets to UPW four day event email [email protected]
• 501C3 tax status for Non-Profit entity

Hosted on Acast. See acast.com/privacy for more information.

Wait, catch yourself if you are feeling sorry for me... Setback merely teach you about yourself or the systems you use. It is an opportunity for growth! And in real estate is a capital improvement that is bolstered in the future.

Costs incurred to date are as follows:

Attorney's Fees $268.30

Eviction Services $1,310.00

Total $1,578.30

Haul, Disinfect & Clean$4,800.00

Total $6,378.30

(Less) Security Deposit $1,295

Total Out-of-Pocket Exp:$5,083.30

Always underwrite and double check you have the buffer!

---

Check out my Free Resources Below:

1) If you are an accredited investor and afraid of the impending market correction? Get out the stock market and into the Simple Passive Cashflow Hedge Fund!

More info: www.SimplePassiveCashflow.com/fund

2) Join a Social Club:

Simple Passive Cashflow Seattle

Simple Passive Cashflow Hawaii

Simple Passive Cashflow Portland

Simple Passive Cashflow Bay Area

Simple Passive Cashflow So Cal

Simple Passive Cashflow East Coast

Simple Passive Cashflow Central USA

3) Subscribe to Simple Passive Cashflow Podcast!

Google Android Phones // Apple iPhone // Youtube

4) Once you have gone through the majority of podcasts feel free to reach out: Chat with Lane

5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email [email protected] if you want to try them out.

More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k

7) Please leave a review for the podcast HERE.

8) Coaching Program to get you to your first rental in 90 days!

9) And finally... if you are just getting started Sign-up for Free Access to the 10 Module Course.

Summary of every Simple Passive Cashflow Podcast.

Hosted on Acast. See acast.com/privacy for more information.

There have been a few Private Money lending deals coming through the deal pipeline. Make sure you are on the list.

What is it?

It is probably to first strategy people should try to get their feet wet. And for people with skeptic spouses it shows how the checks come in.

Any time someone wants to borrow money from an investor to undertake a project. It can be short term or long term.

Great strategy for a sellers market

1st lien 2nd lien position

9-15% returns or 10-20% returns on 2nds, wide range

Based on relationships

Loan to Value LTV - 50-75%

Home flipper looking for 70% LTV and they also include rehab costs

Don't just look at the rate of return - Subjective nature development or cashflow - what is it based on flip to rental or flip to retail

What is your downside if the flipper does not perform - what can it rent for? Seattle vs Birmingham

deed in lieu - work and headache

Another option is crowdfunding sites however there is another person in the middle making fees

you are not going to made substantial wealth with this method but a great way to keep your liquidity moving

not everyone's situation is the same

If you are still trying to grow your wealth you need to get into equity deals and not debt deals

Don't just chase the high IRRs

SPC054 - Fundamentals - Debt Deal vs Equity Deal

#LaneHack #JustTheTip

Looking for a passive fund that invests in distressed notes?

SimplePassiveCashflow is proudly sponsored by www.investinahp.com

Time is the most important resource! Email [email protected] for a free 10-hour trial with the same VAs I use

Please leave a review? Or Share on Facebook! Please!

https://itunes.apple.com/us/podcast/simplepassivecashflow.com/id1118795347

Sign-up Here for ‘Hui” Deal Pipeline Club:

https://simplepassivecashflow.activehosted.com/f/3

Join a Social Club:

Seattle: https://www.facebook.com/groups/SPCHUISEA/

Hawaii: https://www.facebook.com/groups/SPCHUI808/

Portland: https://www.facebook.com/groups/SPCHUIPDX/

Bay Area: https://www.facebook.com/groups/SPCHUIBAY/

So Cal: https://www.facebook.com/groups/SPCHUISOCAL/

East Coast: https://www.facebook.com/groups/SPCHUIEAS/

Central USA: https://www.facebook.com/groups/SPCHUICUS/

Once you have gone through the majority of podcasts feel free to sign up for a chat! And be let into the Secret Hui Facebook Page.

https://calendly.com/simplepassivecashflow/20

Looking for mentorship/turnkey services/apprenticeship/partnership:

simplepassivecasfhlow.com/coaching

Hosted on Acast. See acast.com/privacy for more information.

#LaneHack #JustTheTip

Looking for a passive fund that invests in distressed notes?

SimplePassiveCashflow is proudly sponsored by www.investinahp.com

Time is the most important resource! Email [email protected] for a free 10-hour trial with the same VAs I use

Please leave a review? Or Share on Facebook! Please!

https://itunes.apple.com/us/podcast/simplepassivecashflow.com/id1118795347

Sign-up Here for ‘Hui” Deal Pipeline Club:

https://simplepassivecashflow.activehosted.com/f/3

Join a Social Club:

Seattle: https://www.facebook.com/groups/SPCHUISEA/

Hawaii: https://www.facebook.com/groups/SPCHUI808/

Portland: https://www.facebook.com/groups/SPCHUIPDX/

Bay Area: https://www.facebook.com/groups/SPCHUIBAY/

So Cal: https://www.facebook.com/groups/SPCHUISOCAL/

East Coast: https://www.facebook.com/groups/SPCHUIEAS/

Central USA: https://www.facebook.com/groups/SPCHUICUS/

Once you have gone through the majority of podcasts feel free to sign up for a chat! And be let into the Secret Hui Facebook Page.

https://calendly.com/simplepassivecashflow/20

Looking for mentorship/turnkey services/apprenticeship/partnership:

simplepassivecasfhlow.com/coaching

Hosted on Acast. See acast.com/privacy for more information.

Whitney Nicely went from no investments (or strategies) to 19 houses, 19 apartment units and 7 chunks of land in less than three years all bringing monthly money to her bank account on auto pilot.

She has traveled the United States speaking on stages, teaching her simple strategies, and meeting with other successful real estate investors- and still buying houses the way she teaches others.

Since 2016, Whitney has led and trained hundreds of future real estate rock stars to grow their portfolios, collect checks and achieve financial freedom. 100's of real estate newbies are securing leads, signing deals and scaling their dream incomes through Whitney's REI Rock Star Program.

Take the first step by joining Become a Real Estate Rockstar with Whitney Nicely on Facebook at WhitneyNicely.com/group

#LaneHack #JustTheTip

Looking for a passive fund that invests in distressed notes?

SimplePassiveCashflow is proudly sponsored by www.investinahp.com

Time is the most important resource! Email [email protected] for a free 10-hour trial with the same VAs I use

Please leave a review? Or Share on Facebook! Please!

https://itunes.apple.com/us/podcast/simplepassivecashflow.com/id1118795347

Sign-up Here for ‘Hui” Deal Pipeline Club:

https://simplepassivecashflow.activehosted.com/f/3

Join a Social Club:

Seattle: https://www.facebook.com/groups/SPCHUISEA/

Hawaii: https://www.facebook.com/groups/SPCHUI808/

Portland: https://www.facebook.com/groups/SPCHUIPDX/

Bay Area: https://www.facebook.com/groups/SPCHUIBAY/

So Cal: https://www.facebook.com/groups/SPCHUISOCAL/

East Coast: https://www.facebook.com/groups/SPCHUIEAS/

Central USA: https://www.facebook.com/groups/SPCHUICUS/

Once you have gone through the majority of podcasts feel free to sign up for a chat! And be let into the Secret Hui Facebook Page.

https://calendly.com/simplepassivecashflow/20

Looking for mentorship/turnkey services/apprenticeship/partnership:

simplepassivecasfhlow.com/coaching

Hosted on Acast. See acast.com/privacy for more information.

Looking for a passive fund that invests in distressed notes?

SimplePassiveCashflow is proudly sponsored by www.investinahp.com

Time is the most important resource! Email [email protected] for a free 10-hour trial with the same VAs I use

Please leave a review? Or Share on Facebook! Please!

https://itunes.apple.com/us/podcast/simplepassivecashflow.com/id1118795347

Sign-up Here for ‘Hui” Deal Pipeline Club:

https://simplepassivecashflow.activehosted.com/f/3

Join a Social Club:

Seattle: https://www.facebook.com/groups/SPCHUISEA/

Hawaii: https://www.facebook.com/groups/SPCHUI808/

Portland: https://www.facebook.com/groups/SPCHUIPDX/

Bay Area: https://www.facebook.com/groups/SPCHUIBAY/

So Cal: https://www.facebook.com/groups/SPCHUISOCAL/

East Coast: https://www.facebook.com/groups/SPCHUIEAS/

Central USA: https://www.facebook.com/groups/SPCHUICUS/

Once you have gone through the majority of podcasts feel free to sign up for a chat! And be let into the Secret Hui Facebook Page.

https://calendly.com/simplepassivecashflow/20

Looking for mentorship/turnkey services/apprenticeship/partnership:

simplepassivecasfhlow.com/coaching

Hosted on Acast. See acast.com/privacy for more information.